The storm had already claimed the lives of at least two people in China's Hainan and 16 people in the Philippines
asia9 hours ago
“It’s fair to say that our expectation is that our companies will continue, appreciate in value, over the next several years, so why sell now?” Chief Investment Officer David Smoot said on the sidelines of an Abu Dhabi conference on private equity.
The private equity arm of Dubai Holding is undergoing a debt restructuring. He added that even 2011 would be too early to sell any European assets: “Now is not the right time,” he said.
DIC’s assets include UK hotel chain Travelodge, Doncasters and European aluminium maker Almatis Holdings BV. “We see 2011 as a time when we will return to growth,” Smoot said.
Meanwhile, Bloomberg newswire quoted him as saying that Dubai International Capital LLC plans to restructure its business by the end of the year. “Our goal is to be out of the restructuring business by the end of the year and back into the growth phase,” Smoot said. — haseeb@khaleejtimes.com
The storm had already claimed the lives of at least two people in China's Hainan and 16 people in the Philippines
asia9 hours ago
Dubai Police have asked drivers to be extra cautious
transport9 hours ago
The former all-rounder has returned to cricket during the past year after a horrific car crash at the end of 2022
cricket10 hours ago
Dubai Police have asked drivers to be extra cautious
emergencies10 hours ago
The country has set a new Guinness World Record by creating the largest falcon hood, beating the previous record of 1.65 metres
uae11 hours ago
Hamas' health ministry said that 94,616 people have been wounded since the conflict began on October 7
mena11 hours ago
In most Islamic countries, including the Gulf countries, the Prophet's birthday is observed on 12 Rabi’ Al-Awwal 1444
uae holidays12 hours ago
Traffic will be diverted to the opposite side during this period
transport13 hours ago